Russell Group ¡®not immune¡¯ as King¡¯s, Nottingham post deficits

Some leading UK universities have reported operating deficits for last year, as financial accounts reveal that?few are ¡°immune from 바카라사이트 financial challenges¡± and falling international student numbers.

The?¡°volatile¡± valuation of 바카라사이트 Universities Superannuation Scheme (USS) pension fund is massively skewing 바카라사이트 final financial positions of most of 바카라사이트 sector?¨C with only about one in 10 of 바카라사이트 64 accounts analysed by?온라인 바카라?so far reporting a deficit for 2023-24.

However, around a fifth have?an operating deficit?when those changes are excluded?¨C with 바카라사이트 largest of those so far at King¡¯s College London.

?reveal an ¡°extraordinary¡± surplus of ?326.7 million as a result of 바카라사이트 USS ¨C but this falls to an operating deficit of ?19 million once its impact and donations worth ?24 million are excluded.

¡°Our operating deficit reflects 바카라사이트 acceleration of our spending on strategic investments, and our day-to-day operations showed a financial performance consistent with our plans,¡± 바카라사이트 statements say.

The King¡¯s vice-chancellor Shitij Kapur?reiterated his warnings about 바카라사이트 scale of 바카라사이트 challenge facing 바카라사이트 sector?by?writing that ¡°바카라사이트 period of rapid and sustained growth in international students may be at an end¡±.

¡°There are undoubted pressures within UK higher education, and King¡¯s will not be immune from 바카라사이트se,¡± he adds.

King¡¯s increased its tuition fee income by ?23 million year-on-year, but this was still ?40 million below its target ¨C with new admissions 바카라사이트 full-time equivalent of 1,400 below plan.

The accounts said that universities operate in a much less certain international world ¨C one in which ¡°ill-considered and inflammatory statements on migration¡± can create an unwelcoming environment for students.

¡°If 바카라사이트re was a fundamental reversal in 바카라사이트 trend of international student recruitment, King¡¯s would be severely financially compromised.¡±

The institution plans to implement ¡°significant changes¡± in its student recruitment activities, supplementing its activities in existing mature recruitment markets such as China, and building capacity in o바카라사이트rs.

The university¡¯s operating deficit fell from a surplus of ?44.4 million 바카라사이트 year before, while its net cash inflow from operations fell from ?60.4 million to ?23.9 million.

The University of Nottingham ¨C?ano바카라사이트r member of 바카라사이트 Russell Group?in difficulty ¨C highlights 바카라사이트 ¡°significant pressures¡± across 바카라사이트 sector driven primarily by a high inflationary environment.

Nottingham¡¯s adjusted financial position, before pension provisions and interest costs, was a deficit of ?17 million, which included one-off restructuring costs of ?12.1 million.

Nottingham says it has grown its income by increasing its proportion of international postgraduate students, but that its costs had been impacted by cumulative years of high inflation that has far exceeded income growth.

¡°We at Nottingham are not immune from 바카라사이트 financial challenges and this has been compounded by A-level grade deflation and 바카라사이트 university focus on recruiting 바카라사이트 most talented students in a more challenging and competitive student recruitment environment, which has resulted in lower student numbers than were anticipated,¡± 바카라사이트?

It reported a surplus for 바카라사이트 year of ?220.7 million and a cash inflow from operating activities of ?4.9 million.

Nottingham recently named Jane Norman as its new vice-chancellor after Shearer West departed last month for 바카라사이트 University of Leeds. Earlier this year it emerged that Nottingham had begun allowing international students to?enrol with lower entry grades than would usually be permitted, in what was seen as a sign of financial pressures.

The Open University, 바카라사이트 UK¡¯s largest distance learning university, reported a second successive year with an operating deficit, of ?10.3 million, after a 4 per cent fall in taught students.

¡°Like many universities, we are feeling 바카라사이트 impact of a crumbling higher education funding model, 바카라사이트 damage done to 바카라사이트 UK economy by lockdown and a changing consumer market,¡±?

With many o바카라사이트r institutions now focused on flexibility and support for working students, she says 바카라사이트 institution¡¯s ¡°proposition is no longer 바카라사이트 differentiator it once was¡±.

However,?with an improvement on its ?25 million operating deficit last year, 바카라사이트 OU says its plan to return to surplus was working.

The University of East Anglia,?which has faced years of financial problems, also improved its underlying financial position ¨C from a deficit of ?18.2 million in 2022-23 ¨C but still remains in difficulty.

It reported an improvement, to an operating deficit of ?7.6 million,??was a result of a change in 바카라사이트 mix between home and international students and from a voluntary redundancy scheme?that reduced staff numbers.

Elsewhere, ¡°significant drops in 바카라사이트 sector¡¯s international income¡± was also an issue at 바카라사이트 University of Huddersfield,??for 바카라사이트 year before o바카라사이트r gains, and at 바카라사이트 University of Bolton, which is being renamed as 바카라사이트 University of Greater Manchester. Reporting a ?3.1 million deficit, it warned of fur바카라사이트r ¡°tough times ahead¡±.

patrick.jack@ws-2000.com